Orlando inventory jumps 8 percent as sales slip 14 percent and median price hangs tight
The Orlando housing market in January saw its third consecutive month of year-over-year increases in the number of homes available for purchase, along with a slide in sales and a holding steady of the median price.
Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp., explains that the expanded inventory is advantageous to prospective buyers, particularly those interested in purchasing condos.
“Our condo inventory rose by 26 percent last month, and this home type is an excellent option for those seeking entry into homeownership as a relief from Orlando’s soaring rental rates,” says Fagan. “Condos also tend to be cheaper than single-family homes; for example, the median price of a condo sold in January was only $125,000 compared to $247,950 for a single-family home.” Read more>>